Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Franco-Nevada (FNV) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Franco-Nevada is a member of our Basic Materials group, which includes 255 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Franco-Nevada is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FNV's full-year earnings has moved 26.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, FNV has moved about 34.1% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 28.1%. As we can see, Franco-Nevada is performing better than its sector in the calendar year.
One other Basic Materials stock that has outperformed the sector so far this year is Intrepid Potash (IPI). The stock is up 30.2% year-to-date.
Over the past three months, Intrepid Potash's consensus EPS estimate for the current year has increased 141.7%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Franco-Nevada belongs to the Mining - Gold industry, a group that includes 43 individual companies and currently sits at #24 in the Zacks Industry Rank. This group has gained an average of 33.6% so far this year, so FNV is performing better in this area.
In contrast, Intrepid Potash falls under the Fertilizers industry. Currently, this industry has 6 stocks and is ranked #63. Since the beginning of the year, the industry has moved +19.2%.
Investors interested in the Basic Materials sector may want to keep a close eye on Franco-Nevada and Intrepid Potash as they attempt to continue their solid performance.
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Franco-Nevada Corporation (FNV): Free Stock Analysis Report Intrepid Potash, Inc (IPI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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